Oak Asset Management LLC Cuts Position in Cencora, Inc. (NYSE:COR)

Oak Asset Management LLC cut its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,365 shares of the company's stock after selling 1,030 shares during the quarter. Oak Asset Management LLC's holdings in Cencora were worth $936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. DAVENPORT & Co LLC boosted its holdings in Cencora by 2.2% in the fourth quarter. DAVENPORT & Co LLC now owns 5,509 shares of the company's stock worth $1,238,000 after acquiring an additional 120 shares in the last quarter. Stock Yards Bank & Trust Co. acquired a new position in shares of Cencora during the fourth quarter worth approximately $290,000. Mather Group LLC. lifted its holdings in shares of Cencora by 2.3% in the 4th quarter. Mather Group LLC. now owns 2,615 shares of the company's stock worth $588,000 after purchasing an additional 58 shares in the last quarter. E. Ohman J or Asset Management AB grew its position in Cencora by 4.0% in the 4th quarter. E. Ohman J or Asset Management AB now owns 7,800 shares of the company's stock valued at $1,753,000 after purchasing an additional 300 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new stake in Cencora during the 4th quarter valued at $205,000. Institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Cencora stock traded up $0.60 during mid-day trading on Friday, reaching $289.01. 1,302,615 shares of the company's stock were exchanged, compared to its average volume of 1,529,612. The business's fifty day simple moving average is $286.06 and its 200 day simple moving average is $259.82. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The firm has a market capitalization of $56.02 billion, a PE ratio of 41.11, a P/E/G ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business's revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.80 EPS. On average, sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now directly owns 14,665 shares of the company's stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. The trade was a 9.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,253 shares of company stock worth $11,102,417 in the last quarter. Insiders own 10.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird upped their price target on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $306.91.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.